Gold Triangle on H1 Complete

Gold Triangle is in the closing stages. That can be seen from the H1 chart below. A break out is expected in the next 5 hours when we can hopefully get a hint where the price is going to head.

Market sentiment continues to stay bearish with expectations of a further decline in the midst of a strong US dollar.

A break and a close below $1175 would indicate that the precious metal is heading south. On the other hand, a break and a close above $1183 would hint that the yellow metal is heading north.

Chart: H1 XAUUSD